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Low Income Housing California

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NEWS
August 10, 1990 | PHILIP HAGER, TIMES STAFF WRITER
In a victory for Los Angeles and other cities, the state Supreme Court reversed itself Thursday and held that officials need not provide details of proposed low-rent public housing projects before seeking voter approval. The decision removed a significant legal threat to about 70,000 housing units in California--30,000 of them in Los Angeles--that have been approved in previous elections but not yet constructed.
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NEWS
June 10, 2001 | LEE ROMNEY, TIMES STAFF WRITER
The gray carpet in Veronica Martinez's San Diego apartment is threadbare and stained, the walls badly in need of fresh paint. But at her apartment and others like it, the energy crisis has put a halt to all but the most urgent repairs. Martinez lives in a subsidized home, where utility costs are factored into rents. The rents are capped and cannot be raised, forcing her landlord and others at most publicly supported complexes to bear the brunt of spiking energy costs.
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NEWS
May 30, 1990 | JILL STEWART, TIMES STAFF WRITER
Officials of a key federal housing agency and a nationwide nonprofit group are expected today to unveil a major plan by private corporations to invest $125 million to build 4,000 dwellings for very-low-income residents throughout California over the next five years. The centerpiece investment in the plan is a milestone pledge of up to $10 million for 1990 by the quasi-private Federal Home Loan Mortgage Corp.
BUSINESS
June 25, 1998 | DARYL STRICKLAND, TIMES STAFF WRITER
Builders are putting up only about half the houses needed to accommodate California's fast-growing population, a trend that will make housing dramatically more expensive and could turn legions of families into permanent renters, says a report to be released today. The California Building Industry Assn.
NEWS
February 10, 1991 | DAVE LESHER, TIMES STAFF WRITER
Three years into a massive redevelopment project, city officials in the affluent community of Poway in north San Diego County found themselves with nearly $2 million generated by the project for low- and moderate-income housing. But instead of using the money for homes, city officials decided in 1987 to spend some on new curbs, street lights and a sound wall "because these improvements could be shown to directly benefit low- and moderate-income households in the area."
BUSINESS
December 13, 1991 | MARTHA GROVES, TIMES STAFF WRITER
BankAmerica Corp. said Thursday that it will invest $70 million, the biggest lump sum ever by a U.S. corporation, in developing rental housing for the homeless and working poor in California and six other Western states. B of A's investment is being made against a backdrop of grass-roots concern about the San Francisco-based banking giant's pending merger with Security Pacific Corp. and criticism of B of A's past lending practices involving minorities.
BUSINESS
June 25, 1998 | DARYL STRICKLAND, TIMES STAFF WRITER
Builders are putting up only about half the houses needed to accommodate California's fast-growing population, a trend that will make housing dramatically more expensive and could turn legions of families into permanent renters, says a report to be released today. The California Building Industry Assn.
CALIFORNIA | LOCAL
January 31, 1989 | JILL STEWART, Times Staff Writer
Los Angeles officials and homeless advocates are mounting an intense lobbying effort to head off Gov. George Deukmejian's proposal to eliminate funding for the California Housing Trust Fund, which they say would cripple the day-to-day running of shelters for the homeless and "shared housing" programs for the elderly.
BUSINESS
March 22, 1996 | Times Staff and Wire Reports
Home Savings Ends Low-Income Loan Program: California housing advocates have asked federal regulators to review the S&L's decision to end the 2-year-old program to help build apartments in low-income neighborhoods. Mary Trigg, a spokeswoman for the Irwindale-based lender, said the company is ending the program so it can concentrate on single-family home loans. "In no way are we any less committed to making affordable housing available," she said.
CALIFORNIA | LOCAL
December 24, 1991
Federal officials have awarded more than $1.4 million to a California bank to build or refurbish low-income housing, including two hotels on Los Angeles' Skid Row, bank representatives said Monday. Some of the subsidy from the Federal Home Loan Bank will go toward rehabilitation and seismic retrofitting of the Carton and Haskell hotels near downtown, which together have 83 single-occupancy rooms.
BUSINESS
March 22, 1996 | Times Staff and Wire Reports
Home Savings Ends Low-Income Loan Program: California housing advocates have asked federal regulators to review the S&L's decision to end the 2-year-old program to help build apartments in low-income neighborhoods. Mary Trigg, a spokeswoman for the Irwindale-based lender, said the company is ending the program so it can concentrate on single-family home loans. "In no way are we any less committed to making affordable housing available," she said.
CALIFORNIA | LOCAL
March 26, 1993 | PATRICK LEE, TIMES STAFF WRITER
First Interstate Bank of California said Thursday it will commit $2 billion--nearly 10% of its assets--to low-income home, business and community loans during the next 10 years in the most far-reaching program so far by a financial institution to aid the state's poor and minority communities. The state's third-largest bank also announced that it is changing the way it does business to include more women and minorities.
BUSINESS
September 25, 1992 | JUBE SHIVER Jr., TIMES STAFF WRITER
California's struggling construction industry received a needed boost Thursday when a San Francisco investment house announced that it has raised $87 million from pension funds and other sources to finance construction of single-family homes. Two projects in Southern California, expected to result in 334 homes, will be among the first to receive loans from the fund.
CALIFORNIA | LOCAL
December 24, 1991
Federal officials have awarded more than $1.4 million to a California bank to build or refurbish low-income housing, including two hotels on Los Angeles' Skid Row, bank representatives said Monday. Some of the subsidy from the Federal Home Loan Bank will go toward rehabilitation and seismic retrofitting of the Carton and Haskell hotels near downtown, which together have 83 single-occupancy rooms.
BUSINESS
December 13, 1991 | MARTHA GROVES, TIMES STAFF WRITER
BankAmerica Corp. said Thursday that it will invest $70 million, the biggest lump sum ever by a U.S. corporation, in developing rental housing for the homeless and working poor in California and six other Western states. B of A's investment is being made against a backdrop of grass-roots concern about the San Francisco-based banking giant's pending merger with Security Pacific Corp. and criticism of B of A's past lending practices involving minorities.
BUSINESS
October 12, 1991 | JAMES BATES, TIMES STAFF WRITER
Bank of America on Friday disclosed data showing that it rejected home loan applications from minorities at a far higher rate than Anglos last year, and it announced a series of steps to improve lending practices to low-income and minority customers. The data, gathered under the Home Mortgage Disclosure Act, shows that Anglos were rejected 26% of the time, while African-American and Latino loan applications were rejected 39% of the time.
NEWS
June 10, 2001 | LEE ROMNEY, TIMES STAFF WRITER
The gray carpet in Veronica Martinez's San Diego apartment is threadbare and stained, the walls badly in need of fresh paint. But at her apartment and others like it, the energy crisis has put a halt to all but the most urgent repairs. Martinez lives in a subsidized home, where utility costs are factored into rents. The rents are capped and cannot be raised, forcing her landlord and others at most publicly supported complexes to bear the brunt of spiking energy costs.
CALIFORNIA | LOCAL
May 14, 1991 | LAURIE BECKLUND, TIMES STAFF WRITER
California corporations invested an unprecedented $30 million last year in a federal tax credit program that will create 15 new low-income housing projects statewide, a dozen of them in Los Angeles County, officials said Monday. In Los Angeles, the funds will mean 481 units of new affordable housing for low-income families in central Los Angeles and of refurbished hotel rooms for single residents of Skid Row.
CALIFORNIA | LOCAL
May 14, 1991 | LAURIE BECKLUND, TIMES STAFF WRITER
California corporations invested an unprecedented $30 million last year in a federal tax credit program that will create 15 new low-income housing projects statewide, a dozen of them in Los Angeles County, officials said Monday. In Los Angeles, the funds will mean 481 units of new affordable housing for low-income families in central Los Angeles and of refurbished hotel rooms for single residents of Skid Row.
BUSINESS
April 12, 1991 | JAMES BATES, TIMES STAFF WRITER
In an about-face from its previous policy, Bank of America on Thursday publicly committed to providing at least $5 billion in housing and community development loans over 10 years for low- and moderate-income areas in California. The announcement, the largest such commitment ever made by a U.S. bank, defuses a potentially sticky issue for the bank's parent, BankAmerica Corp., while it is vying to buy the failed Bank of New England from federal regulators.
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